Ripple's recent legal triumph has left the debate surrounding XRP's classification as a security unresolved, with the potential for a SEC appeal to significantly impact the token's future.

Following the CNF update, Fred Rispoli raised concerns about regulatory inconsistencies, suggesting XRP may be considered a security in California but not in New York. Despite Judge Phyllis Hamilton dismissing several claims against Ripple in the Zakinov lawsuit, including securities law violation allegations, the core issue remains unresolved.

However, a trial will proceed regarding misleading statements related to the offer or sale of securities under California state law, centered on a 2017 statement by Ripple CEO Brad Garlinghouse.

U.S. courts have delivered mixed rulings, with one dismissing allegations of Ripple breaching securities laws, contrasting with a New York ruling finding Ripple in violation. In July 2023, Judge Analisa Torres ruled that Ripple violated securities laws by selling XRP to institutional investors, with the company and SEC awaiting a decision on the penalty Ripple must pay.

Regarding the SEC and the Programmatic Sales of XRP ruling, Judge Phyllis Hamilton referenced this in her court order. If Ripple loses the case concerning the Howey test's third prong, the SEC might find grounds to appeal the Programmatic Sales ruling. In July 2023, Judge Torres also ruled that programmatic sales of XRP do not satisfy the Howey test.

As of June 21, 2024, XRP's price stands at $0.4773, with a 2.13% decrease in the past day and a 1.72% decrease in the past week. Ripple's latest victory leaves many questions unanswered, and a successful SEC appeal could significantly alter XRP's outlook.